20220517 Premarket Prep Gold - Bear Market Trader
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20220517 Premarket Prep Gold

20220517 Premarket Prep Gold

#fin­twit #XAUUSD #GOLD

This is my pre­mar­ket prep for today’s Euro­pean ses­sion for GOLD. This prep builds off of my week­ly trade plan I made here:

The pur­pose of a pre­mar­ket prep is to find setups with­in my week­ly trade plan bias

Larg­er Timeframe

  • MN
    • Price trad­ing below body and range, some reac­tion off MN demand
    • MN QHi rejec­tion, price trad­ing mid swing
  • W1
    • Price trad­ing with­in wide W1 QLo
    • Price made a LL and start­ed react­ing off W1 demand

Click to Enlarge


  • D1
    • D1 Bull Engulf react­ing off demand
    • Price still trad­ing with­in Wide D1 QLo
  • H4
    • H4 QLo reject­ed, price trad­ing mid swing at H4 VWAP in DT
  • Trend
    • Mixed Trend, Up, Down, Up
  • Mar­ket Profile
    • Val­ues in DT, price trad­ing above value
  • LN Open
    • 1.23xASR Above Val­ue, Out­side Range
    • Huge Imbal­ance
    • Open at yesterday’s high
    • 0.40xASR IBR
    • Asia trad­ed extend­ed down but most­ly trad­ed sideways

Addi­tion­al Notes

  • N.A.


  • Hypo 1
    • Long
    • Late-Sus­tained Auction
  • Hypo 2
    • Long
    • Failed Auc­tion
  • Hypo 3
    • Short
    • Late-Sus­tained Auction
  • Hypo 4
    • Short
    • Failed Auc­tion


  • 1

Mind­ful Trad­ing (lack of sleep?)

  • Feel­ing okay

Focus Points for trad­ing development

  • Month­ly Goals
    • Either hit SL or tar­get, reassess after Trad­ing Win­dow Close
    • Use SL scal­ing in case the prof­it tar­get for the set­up doesn’t pro­vide 2R for exam­ple for FA or VAA setups
  • Risk Man­age­ment
    • 2 con­sec­u­tive days of lack of sleep = NO TRADING


Day trader. Tech geek. Sim Racing Enthusiast.

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